SBI is supportive of another wave of mergers among state-backed lenders as policymakers explore ways to build scale and finance growth in the world’s fastest-growing major economy. (Photo: Vijay Sartape/NDTV Profit) Show Quick Read Summary is AI Generated. Newsroom Reviewed

State Bank of India (SBI) is supportive of another wave of mergers among state-backed lenders as policymakers explore ways to build scale and finance growth in the world’s fastest-growing major economy.

“Some further rationalization might make sense. There are still some smaller, sub-scale banks,” Challa Sreenivasulu Setty, chairman of the country’s biggest bank, said in an interview with Bloomberg News in Mumbai. “If another round happens, it may not be a bad idea,” he said.

Mumbai-based SBI controls about on

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